The Hungarian Competition Authority (GVH) is encouraging families to utilize its online price comparison tool, Árfigyelő, to save money and time during the busy days leading up to Christmas. The system allows users to compare prices of over 5,000 different food and household products, updated daily across approximately 1,800 stores nationwide.

Launched on July 1, 2023, in collaboration with the government, the Árfigyelő system initially monitored 62 product categories. It has since expanded to track prices in 140 categories, including various food items essential for holiday meals, such as meats, dairy products, vegetables, fruits, baked goods, and non-perishable foods.

The GVH has noted that the introduction of the Árfigyelő has led to a nearly 10% reduction in the gross margins of retailers for dairy products. According to calculations by the Makronóm Institute, the system is expected to save Hungarian households around 20 billion forints during the winter months of 2023/24 through its price-reducing effects. Following Hungary's example, Slovakia has recently launched its own online price comparison system to combat inflation.

Additionally, the GVH is collaborating with the Hungarian National Bank (MNB) to investigate how the recent strengthening of the forint is reflected in consumer prices in Hungary, particularly for imported goods and food products. The authority is considering using its historical data from the Árfigyelő in its assessments and may initiate expedited sector inquiries or competition supervision proceedings against relevant market players if necessary.